Bloomberg announces layoff plans, funding cuts

Mayor Michael Bloomberg announced plans today to lay off thousands of city workers as part of a move to close a $3.3 billion budget gap.

Bloomberg is proposing 350 cuts to the New York Police Department and closing 20 firehouses across the city. However, he says those firefighters would be moved to other firehouses rather than losing their jobs.

Another cut included in the mayor's proposal is $350 million in funding for the Department of Education.

The mayor says he has also ordered a partial hiring freeze, allowing new employees to be hired in public health and safety only.